Infiniti M37 M56 Lease Questions

j28877

I'm dealing w/Bommarito right now, but I also need to look into Plaza's deals. I talked to Bommarito again today (the sales manager) and he verified no disposition fee under any circumstance.

stlgasman

Email me directly to share info. Click on username to get email info.

j28877

STLGASMAN - your email address is listed as private, so I was unable to contact you. I put my address out there (assuming it worked), so feel free to shoot me an email.

stlgasman

Yours is showing private also. Add @aol.com to name

infinitimn

That price sounds too good to be true,given the cap cost you uoted and what I have seen here about MF and residuals. Have you taken delivery at that price?

mabraham77

Hello,

I've seen a few posts in this thread about buying down a rate (MF) with multiple security deposits. I've never heard of this before, and I don't really understand the process. Could someone tell me how I would approach a sales person about this? For instance, would I simply say, "I don't want to pay a down payment, but I would like to buy down the rate. What would the rate be if I made a security deposit of $___?"

Also, why and how does making "multiple" security deposits work?

I'm in the market for an M35x w/ Advanced Tech. Pkg. for 36 mo./15K mi. per year. I live in the NJ area.

Thanks,

M

ghstudio

I and others have made lots of posts in this forum explaining multiple security deposits.

What you say to the dealer is....I don't want to pay any down payment...just first month's payment plus registration/taxes (and security deposit if required..it usually isn't). No money down on the lease. (note: the origination fee and any "administrative fee" are also rolled into the lease, not paid up front).

Then when you have negotiated the lease payment for the car you want....the cash out the door price....ask the dealer to run all of the leases...24,36,39 and any others that they have (sometimes 18, 27 months). Look at total cost of all payments (initial payment, all monthly payments, etc), then divide by the number of months to see cost per month.

Then, and only then, ask them to rerun the rates with multiple security deposits (up to 9 are allowed). Again, ask them to run all the numbers and figure out the true monthly cost. Remember that you get the multiple security deposits back at the end of the lease..they are NOT a down payment that you don't get back.

jcee2

What would the price be for 12 or 15K miles? Are you using VPP pricing? Sell Price is good for NY. I dealing with PEPE in white Plains NY. Also does 489.00 include sales tax?
Jose

letch

I'm in Raleigh NC and I'm considering the 27 mo lease on the M35. The Infiniti promotion is on the Journey package which stickers for $43,500. That package is fine with me. I need 15k miles per year and want to basically just pay 1st months payment at signing. My beacon score is over 800. Does anyone have a good idea of what kind of monthly payment I should negotiate for? BTW, sales tax in NC is 3%. Thanks so much for any help.

jccoop

I had a M35 that was in a accident and was totaled. I leased it from infiniti and I put down a $4000 deposit to lower the cap cost. When I called to talk to them about the payoff I found out that they were to keep all the money from my insurance and they wanted my deductable on top of that of $1000. I had negotiated a great price on the vehicle and was using the lease as a way to finance the vehicle cheaper the doing a regular loan. So I call up infiniti to get a payoff so I could pay them off and then let the insurance pay me. They said that by law they don't have to sell me the vehicle. At this point the infiniti rep became very rude and I ended the conversation. So the just of it is that I agreed to pay $45000 for my infiniti and put down $4000. I paid $7320 in payments. My insurance company is going to pay them $39000 and they want another $1000 from me. This works out to me paying $6320 in interest to infiniti on $41000 owed for one year. That works out to an interest rate of 15% when I was supposed to be getting about a 3% special financing rate. So for one year I I just purchased another infiniti and am now wishing I would have got something else because of the horrible customer service. If you get an infiniti don't deal with nissan or infiniti finance. Also if you lease don't put any money down. Because if your car is totaled. That money is gone. Does anyone have any suggestions? I am having my lawyer look at it to see what he can do.

ghstudio

The interesting question here is if jccoop had used that $4000 as multiple security deposits (which he should have done), how would this be handled. I should probably read my lease.

buffalosojah

Are these numbers okay? 07 M35 Sport
Cap Cost: 42587
18K miles a year
39months .00093 52% $586
27months .00042 63% $575

stlgasman

I emailed you. We should talk.

buster6

This is exactly why you never put $ down on a lease! If the car is totaled or stolen your insurance company pays what it is deemed to be worth. The gap insurance (provided in the lease) makes up any difference. You are not refunded any down payment unless there is equity in the car (very rare). If you had not put the 4000.00 down your car still would have been paid off, and you could walk away scott free.

rjlaero

Yeah, you can't blame infiniti for that, it's your own fault. The extra money you put down on a lease to lower the monthly payment is gone if the car is totaled.

stlgasman

What happens to multiple security deposits if you total the car?

rjlaero

I'm not sure about security deposits when your lease is totaled out. But I'm thinking you'd get them back.

kyfdx

That is a great question... We all know what happens when you make a large cap cost reduction... it's gone...

Common sense tells you that you'd get your security deposit money back, but I've found that banks and insurance companies don't pay a lot of attention to common sense, especially if it might cost them money.

As of yet, we still haven't heard from anyone who has made MSDs and then totaled their vehicle.

regards,
kyfdx

poorprof

When I got mine, I asked specifically what happens to my MSD if the car is stolen or totalled. The dealer verified with IFS and told me you LOSE your MSD as well as your cap reduction. The IFS guy said on the speaker phone to me "you get your MSD back if you return the car. If its gone or totalled, you are not returning it, are you?"

kyfdx

Very interesting..

That would make me think twice before doing MSDs...

buynewbimmer

Can that be? Anybody know if that's true with BMWFS? I put down MSDs on my 2006 BMW 330i (a total of $4,200), based on the understanding that it was not at risk if I totalled the car (not that I'm planning to ).

If anybody knows for sure, I'd appreciate hearing about it.

Jim

mfaizan

I was quoted the following from Inskip Infiniti in Rhode Island:
M35x with Tech pkg
Cap cost: $45889 (they claim this is $1000 over invoice)
Residual: 64%
Money Factor: 0.00088
27 month lease / 15K miles per year
$636 per month plus tax.
I feel I can do better than that.

Are the residuals and money factor quoted correct?? Please help!! What are the numbers for March / April??

stlgasman

money factor should be .00048

mfaizan

Can you please tell me where I can find the Infiniti residuals and current money factors on the internet?? I want to print a copy and take it to the dealer so he does not try to argue or cheat with me. Thanks.

stlgasman

I found them at roadflydotcom. You need to make that into a web address.

'07 Infiniti M35/M45 Lease Rates - 3/07

Message: Infiniti Financial Services Lease Rates & Residuals – Effective 3/6/07

Add 2% to Residual Value for 12k mi/yr and 3% for 10k mi/yr on all terms

2007 Infiniti M35 Sedan
24 mo/15k mi – Residual Value 66% of MSRP – .00055 Money Factor Buy Rate
36 mo/15k mi – Residual Value 55% of MSRP – .00100 Money Factor Buy Rate
48 mo/15k mi – Residual Value 45% of MSRP – .00186 Money Factor Buy Rate
60 mo/15k mi – Residual Value 37% of MSRP – .00222 Money Factor Buy Rate

2007 Infiniti M35 Sport Sedan
24 mo/15k mi – Residual Value 64% of MSRP – .00011 Base Money Factor Rate
36 mo/15k mi – Residual Value 53% of MSRP – .00072 Base Money Factor Rate
48 mo/15k mi – Residual Value 43% of MSRP – .00167 Base Money Factor Rate
60 mo/15k mi – Residual Value 36% of MSRP – .00222 Base Money Factor Rate

2007 Infiniti M35 AWD Sedan
24 mo/15k mi – Residual Value 65% of MSRP – .00039 Base Money Factor Rate
36 mo/15k mi – Residual Value 53% of MSRP – .00074 Base Money Factor Rate
48 mo/15k mi – Residual Value 44% of MSRP – .00183 Base Money Factor Rate
60 mo/15k mi – Residual Value 36% of MSRP – .00224 Base Money Factor Rate

2007 Infiniti M45 Sedan 24 mo/15k mi – Residual Value 66% of MSRP – .00058 Money Factor Buy Rate
36 mo/15k mi – Residual Value 55% of MSRP – .00107 Money Factor Buy Rate
48 mo/15k mi – Residual Value 45% of MSRP – .00184 Money Factor Buy Rate
60 mo/15k mi – Residual Value 35% of MSRP – .00250 Money Factor Buy Rate

2007 Infiniti M45 Sport Sedan
24 mo/15k mi – Residual Value 66% of MSRP – .00069 Money Factor Buy Rate
36 mo/15k mi – Residual Value 55% of MSRP – .00105 Money Factor Buy Rate
48 mo/15k mi – Residual Value 45% of MSRP – .00167 Money Factor Buy Rate
60 mo/15k mi – Residual Value 37% of MSRP – .00247 Money Factor Buy Rate

wawa

**new member** and im sure this topic has been beaten to death
\my deal was
$430 a month
27 mths
12k miles
on a m35x
with the areo package
4,400 due at signing ...
dont sound too hot after reading all those postings
at this point how do i get the out of pocket down... by payin additional security

lol if u can even understand what i wrote please say sumthing back ..... thanks

kb0165

What is the $4400 for?
KB

wawa

its the taxes and all the fees everythng all togther

kb0165

The deal that I got was, for a retail of about $48,600:
$485/mo. for 10k
$2500 down = tax, bank fee and 1st mo.
KB

wawa

i called the 2 dealers ive been dealing with here in ny

one is saying that u cant do the extra security deposits in ny the other hasnt responded back yet .. does anyone know if thats true

kyfdx

You can't do MSDs in New York...

I think they restrict the security deposit to a maximum of $750.

wawa

well heres my story

im doing this tomorrow morning unless someone has a reason i shouldnt or think im gettin SCREWED

2007 M35X
15K MILES 27 MONTHS
3800 OUT OF POCKET TOTAL
AERO KIT & TEK PACKAGE
499 A MONTH

bigloser68

2007 M35 Sport
Black
Advanced Tech with XM
Mobile Entertainment System with rear 8 inch screen 2 wireless headphones

MSRP 52900
Purchase 48700

27 Month
664.66 month including tax and everything
tax rate 7.75%-which is 47.81 of the payment
doc is 399.00
[non-permissible content removed] 28.25
vtr 195-vehicle theft registration, dont ask
acquistion 595.00
total down drive off $500.00 due at signing

so it was 500 down 664.66 a month 27 month

Not sure what the money factor is but I am definetly Tier 1 since I have leased before with IFS and perfect track record.

Any thoughts? I haven't picked it up yet but I will tomorrow so please respond....I think I might be able to get the cap cost another 500 or so off

bigloser68

they said the bank fee is 595.....is this standard for tier 1 credit???????

stlgasman

yes

rrazzorr

Just got a new lease on 3/27/07, don't really know much about lease calculations, was reading the posts, thought I'd share my numbers, see what others think. Thanks!!!

2007 M35X
10K MILES/year (don't need more) - 27 MONTH Total
1550 Total due at signing, all fees (includes first month)
Standard package, no extras
$525 A MONTH (Tax included, registered in NJ)

What do you think?

rrazzorr

...while I am at it, how do you find an unbiased true residual value for the car you're about to lease.

I assume Money Factor should not be a problem to locate with any dealer.

Thanks again, and btw, very useful forum.

kyfdx

Actually, it is the other way around.. The residuals are set by the bank, and the dealer is not allowed to change them..

Money factors are also set by the bank... but, the dealers are allowed to mark them up for extra profit.. and, many dealers are less than forthcoming about them..

ghstudio

Contractually, you do not have to return the car at any point...but if you don't (for whatever reason), you must purchase the car and are liable for the remaining monthly payments and the residual value.

Let's say you have a 24 month lease of an M35 for $585 a month and a residual of $27000. Now let's say you total the car in month 1. You still owe IFS 23*585 plus $27000 or $40,500. Now, let's assume you have given IFS $4200 in MSD's. Your car is insured and lets assume the insurance pays $40500. IFS can not keep in excess of the contractual purchase price of the car....so they owe you $4200 back. They don't owe it to you because it's an MSD, they owe it to you because it is an overpayment. If you purchase a car, then you can't lose a security deposit due to damage...you purchased the car asis. There is no legal way they can keep that money as long as you have paid the full $40500 thru any combination of payments and insurance. If you reduced your payments by giving a down payment, you still owe IFS a total of $40500....and IFS can not keep any more...you have executed your part of the contract.

The key is...if you total your car....you then have to choose to purchase the car. You can't just walk from the contract. In this case, Infiniti is due $40,500 not more, not less.

kyfdx

One flaw in that scenario...

There is no way that a car that you paid $40,500 for is going to have a fair market value of $40,500...

You know the old adage about losing thousands in value as soon as you drive it over the curb? The insurance company is valuing it as a used car.. You paid for a new car... There will be a substantial difference between those two numbers...

Otherwise, your reasoning makes sense... If the insurance company pays off the lease, then you will certainly get you deposit back..

But, the other fly in the ointment? IFS owns the car... Insurance company asks them for the payoff.. they quote the lease balance minus the security deposit.. Insurance company pays them that number.. they are even.. you are out your MSDs.

Does it work that way? I have no idea... I'd love to hear from someone that has experienced it.

regards,
kyfdx

CarMan@Edmunds

Hi buffalosojah. The money factors that you mentioned look about right for Infiniti's March lease program for this car, but they are different than its current one. Infiniti Financial Services' current buy rate lease money factor and residual value for a 39 month lease of a 2007 Infiniti M35 Sport with 15,000 miles per year are .00083 and 52%, respectively. The numbers for an otherwise identical 27 month lease are .00022 and 63%. 15,000 miles per year is the highest mileage allowance that IFS publishes residual values for. If you need to drive more than this you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your lease and have to pay an excess mileage penalty.

As far as this car's price goes, a base 2007 Infiniti M35 Sport has a spread of a little over $3,500 between its full MSRP and its dealer invoice price. You never mentioned what this car's MSRP is, but you can use this information as a barometer to tell how close to invoice you are or you can just look up this car's invoice price in the following section of this site: Edmunds.com New Vehicle Pricing. The closer to dealer invoice your capitalized cost is, the better.

Car_man
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CarMan@Edmunds

Welcome wawa. I would be happy to give you my opinion of this deal, but you never mentioned the selling price or MSRP of your car. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this what this car's selling price was in relation to its MSRP it is difficult to tell how much of a discount you got on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. Let me know what these numbers are and I'll let you know what I think.

Car_man
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CarMan@Edmunds

Hi bigloser68. The car that you described has a spread of around $4,250 between its full MSRP and its dealer invoice price. So the selling price that you were quoted looks as though it is pretty close to invoice, which is a very good deal on a lease of this car. Make sure that the dealer that you are working with uses Infiniti Financial Services' buy rate lease money factor of .00022, for a 27 month lease of an '07 M35 Sport, to calculate your monthly payment and you're in business.

Car_man
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CarMan@Edmunds

Yes, bigloser68, Infiniti Financial Services charges a $595 acquisition fee, aka bank fee, on every vehicle that it leases.

Car_man
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CarMan@Edmunds

Congratulations on your new car, rrazzorr. I would be happy to give you my opinion on this deal, but it would be easier for me to do so if I had your car's MSRP and selling price first. These numbers should be listed on your lease contract. Let me know what they are and I'll tell you what I think.

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mfaizan

I was quoted the following from Inskip Infiniti in Rhode Island:
M35x with Tech pkg
Cap cost: $45889 (they claim this is $1000 over invoice)
Residual: 64%
Money Factor: 0.00088
27 month lease / 15K miles per year
$636 per month plus tax.
I feel I can do better than that.

Are the residuals and money factor quoted correct?? Please help!! What are the numbers for April?? Also do you think I can get the car at invoice prce?? Thanks.

shive123

I just leased an M-35 w/Tech, Journey, trunk mat and splash guards on 3/23 in Tampa.
MSRP: 46660.00
Cap Cost: 43762.00 includes 595 Acq. fee & 500 over invoice
Res.: 65%
Money factor: .00058
$ 799.11 down includes 1st mo. payment
27mo/15000mi
540.14/mo plus 37.81 FL sales tax
carbuyingtips.com was a great help with their lease spreadsheet.

cotterm

what was your total out of pocket?

shive123

My total out of pocket was $ 799.11

cotterm

we have one infinity dealership here. I asked the sales man to run numbers for a 27 month lease. M35x.

MSRP: $48,330
Sales Price: 44,946
Residual: 31,414
12k/year
1st payment + fees= $1,500 (total out of pocket)
payment= $637

I told him I wanted nothing out of pocket on a lease, and he said $1,500 was the lowest he could get the Out of pocket. I have bought and leased a bunch of times, and this seemed like BS. What do you all think about this?